The New Mexico Department of Cultural Affairs has revealed that the state's nonprofit arts and culture industry injected $740.9 million into the economy in 2022. This data was unveiled in the Arts & Economic Prosperity 6 (AEP6) study, conducted by Americans for the Arts, which underscored the significant economic impact of the nonprofit arts and culture sector in New Mexico.
According to a press release by the New Mexico Department of Cultural Affairs, this economic activity comprised $267.5 million in spending by organizations and $473.4 million in event-related expenditures by audiences. The sector supported 9,381 jobs and contributed $106.1 million in tax revenue. Attendees' spending averaged $57.73 per person, proving critical for local businesses, with 18.3% of nonlocal visitors spending an average of $121.74. The study also emphasized the sector's role in fostering community pride and appreciation, reflecting a strong connection to the surveyed activities and venues.
"Investing in the nonprofit arts bolsters New Mexico’s economy, fostering a genuine sense of pride and community among residents and visitors alike," said Debra Garcia y Griego, New Mexico State Cultural Affairs Cabinet Secretary, according to another press release by the department. "It also nurtures our artistic communities, showcasing the respect and confidence people have in the endeavors taking place here."
As outlined on its webpage provided by Americans for the Arts, AEP6 is a comprehensive study conducted over 30 years that examines the economic and social impact of the nonprofit arts and culture sector nationwide. The study encompasses 373 regions across all 50 states, including Puerto Rico.
Bivens, president and CEO of Americans for the Arts, said in a press release by the New Mexico Department of Cultural Affairs: "Arts and culture organizations have a powerful ability to attract and hold dollars in the community longer. They employ people locally, purchase goods and services from nearby businesses, and produce the authentic cultural experiences that are magnets for visitors, tourists, and new residents. When we invest in nonprofit arts and culture, we strengthen our economy and build more livable communities."
